Technavio, a tech-focused market research firm, has published a new report on the global automotive direct drive motor market, which is expected to grow at a CAGR of close to 202% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers label the global automotive direct drive motor market into the following primary regions: the Americas, APAC, and EMEA.
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Automotive DDM market in the Americas: The increasing sales of electric vehicle (EV) in the Americas will drive the market growth in this region. The implementation of stringent regulations regarding fuel efficiency and emissions of the vehicles will increase the demand for automotive direct drive motor in the American market. The US and Canada are the largest revenue generating countries in this region. Additionally, the increasing investments from the government to electrify public and private transport systems are fostering the market for EVs, which, in turn, will have a positive impact on DDM market in this region.
According to Neelam Barua, a lead analyst at Technavio, specializing in research on automotive electronics, “The OEMs in the market are developing low-cost solutions to reduce GHG emissions and increase fuel efficiency. These efforts will increase the demand for automotive direct drive motor in the American market. The economic development of emerging Latin American countries like Brazil will also boost the development of the DDM market in this region.”
Automotive DDM market in APAC: The development efforts made by various vendors to launch hybrid vehicles in the APAC market will help in the growth of the market in this region. The increase in the production and sales of automotive related parts such as batteries, power inverters, and motors will also help revolutionize the automotive industry in this region. The government bodies in the region are offering attractive subsidies and incentive packages to promote green vehicles. Some of the incentives offered by the government include reserved free parking spaces, low rate public charging units, and tax returns.
Automotive DDM market in EMEA: The increasing adoption of hybrid and electric vehicles by the various consumers in the EMEA market will increase the demand for direct drive motors in the region. The various tax incentives offered by the government in the region has resulted in the increased production and sales of EVs in the EMEA market. The vendors in the market are also focusing on hybrid and alternative fuel sources for various commercial vehicles to promote sustainable development.
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The top leading vendors operating in the global automotive direct drive motor market are:
- Continental
- PROTEAN ELECTRIC
- Printed Motor Works (PMW)
- TM4
Other prominent vendors in the market include Elaphe, Kollmorgen, and Metric Mind.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Direct Drive Motor Market 2017-2021’. Technavio also customizes reports by additional regions and precise segments upon request.
Other related reports:
- Global Automotive Terrain Response System Market 2017-2021
- Global Automotive Launch Control System Market 2017-2021
- Global Electric Drives Market 2017-2021
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